Gasoline (XB1) Down $0.02 Over Past 4 Hours, 2 Day Up Streak Snapped; in an Uptrend Over Past 14 Days

Gasoline 4 Hour Price Update

Updated May 25, 2020 11:07 PM GMT (07:07 PM EST)

The choppiness in the recent four-hour candle price action of Gasoline continues; to start the current 4 hour candle, it came in at a price of 1.0334 US dollars, down 1.48% ($0.02) since the last 4 hour candle. Relative to other instruments in the energy commodity asset class, Gasoline ranked 4th since the last 4 hour candle in terms of percentage price change.

Gasoline Daily Price Recap

The choppiness in the recent daily price action of Gasoline continues; to start today, it came in at a price of 1.0334 US dollars, down 1.48% ($0.02) since the day prior. Out of the 6 instruments in the energy commodity asset class, Gasoline ended up ranking 4th for the day in terms of price change relative to the day prior. Here is a daily price chart of Gasoline.

Gasoline Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Traders will also want to note, though, that a counter trend — meaning a trend going up — can be seen on the 14 and 30 day timeframes. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to sell rallies. Or to view things another way, note that out of the past 30 days Gasoline’s price has gone up 16 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

@sjcalgary Last time WCS was $30/bbl was at the beginning of March and gasoline price was $1.08/l. So it doesnt look like $0.97/l is that far off, acknowledging summer gas pricing always gets boosted. Oddly small differential between WCS and WTI tho (usually $15-$22/bbl, currently $3/bbl)

Venezuala’s entire economy is based on Oil&GasPrice fell to $50/bbl, sales not enough to keep economy afloatBad government policy of freezing gasoline price even though the currency became inflated, meaning gasoline sold for less than it what it cost to produce it👆🏿READ🇳🇬